Wealthquest Corp Makes New $1.16 Million Investment in U.S. Bancorp (NYSE:USB)

Wealthquest Corp bought a new position in U.S. Bancorp (NYSE:USB - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 26,095 shares of the financial services provider's stock, valued at approximately $1,160,000.

Several other institutional investors have also recently made changes to their positions in USB. FMR LLC lifted its position in shares of U.S. Bancorp by 32.7% during the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider's stock worth $2,922,784,000 after purchasing an additional 15,746,852 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of U.S. Bancorp by 723.7% during the third quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider's stock worth $146,864,000 after purchasing an additional 2,821,642 shares during the last quarter. Marshall Wace LLP grew its stake in U.S. Bancorp by 1,438.4% in the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider's stock worth $89,853,000 after purchasing an additional 2,116,175 shares in the last quarter. National Bank of Canada FI increased its holdings in U.S. Bancorp by 313.8% during the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider's stock worth $105,903,000 after purchasing an additional 2,046,522 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in U.S. Bancorp by 109.7% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider's stock valued at $161,491,000 after purchasing an additional 1,847,000 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

Analysts Set New Price Targets

USB has been the topic of a number of recent research reports. Piper Sandler increased their price target on U.S. Bancorp from $52.00 to $58.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Compass Point raised their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a "buy" rating in a research report on Tuesday. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 price objective on the stock. in a report on Thursday, October 24th. Finally, Stephens boosted their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $53.27.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 25,000 shares of the company's stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Performance

USB traded down $0.22 on Thursday, reaching $51.10. 7,564,930 shares of the stock were exchanged, compared to its average volume of 8,218,211. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The company's 50-day moving average price is $49.52 and its 200 day moving average price is $45.07. The firm has a market capitalization of $79.72 billion, a PE ratio of 15.69, a PEG ratio of 3.08 and a beta of 1.03. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The company's revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.91%. U.S. Bancorp's payout ratio is currently 61.16%.

U.S. Bancorp announced that its board has approved a stock buyback program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.